September 22, 2014 / 11:21 AM / 5 years ago

UPDATE 1-Ex-VTB executive Bostandjiev launches emerging market fund Gemcorp

(Adds comment, detail)

LONDON, Sept 22 (Reuters) - A former senior executive of Russian investment bank VTB Capital (part of banking group VTB ) has launched an emerging market fund dubbed Gemcorp, saying it had already raised $500 million from European institutional investors.

Atanas Bostandjiev, a former partner at Goldman Sachs , said London-headquartered Gemcorp would aim to invest in emerging market companies. The $500 million sum raised has a lock-up period of five years.

“We see a significant gap where traditional financial institutions are unable to meet the growing demand from emerging markets clients for flexible and reliable debt or equity financing solutions,” Bostandjiev said in a statement.

The firm employs 17 people. It will focus on financial services, natural resources, infrastructure and sovereign sectors. (Reporting by Freya Berry; Editing by Clare Hutchison and David Holmes)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below